Cayman Finance Assertion on G7 International Bare minimum Tax Announcement | Business
GEORGE City, Cayman Islands–(Business WIRE)–Jun 8, 2021–
Cayman Finance issued the following assertion by CEO Jude Scott adhering to the announcement by G7 Finance Ministers that they have arrived at agreement on a world minimum corporate tax rate:
“The Cayman Islands is a tax neutral jurisdiction and our money solutions field is the world’s leader in worldwide investment decision money, which are internationally recognised as tax neutral. Cayman achieves tax neutrality in the most straightforward and most price tag-powerful way possible: it does not add another layer of tax on top rated of that is imposed by other jurisdictions. This allows our economic expert services business to do what it does very best, facilitating investment in the course of the world, therefore driving worldwide economic development and prosperity.
Our marketplace will proceed to play this crucial function, much wanted for the duration of this time of restoration from a worldwide pandemic, subsequent any implementation of a world wide minimum amount tax rate for multinational enterprises.
Our tax neutral routine recognises the worth of taxing the right people today, at the appropriate place, at the ideal time. In fact, Cayman’s tax info-sharing commitments empower extra effective tax collection by other jurisdictions.
Taken as a total, Cayman’s tax neutrality and global commitments protect in opposition to tax evasion, aggressive tax avoidance, unfair tax level of competition and any tax hurt to other jurisdictions. Which is a record we are proud of and will continue to advocate for in international common-location endeavours.”
About Cayman Finance:
Cayman Finance is the association of the financial solutions business of the Cayman Islands, a leading global tax neutral economic hub competently connecting regulation abiding end users and suppliers of investment funds and funding about the entire world.
Cayman Finance signifies very first rate services suppliers within financial commitment cash and asset management, banking, insurance policies, reinsurance, capital markets, and trusts sectors and entire world course fiduciary, legal, and public accounting company vendors. Moreover, Cayman Finance represents 15 business associations.
Learn a lot more at: www.caymanfinance.ky
Check out source variation on businesswire.com:https://www.businesswire.com/information/dwelling/20210608005327/en/
Make contact with: Cayman Finance:
Ben Meade, Communication & Community Relations Manager
[email protected]| (345) 769-6203/924-0652
Key phrase: NORTH The usa UNITED STATES CAYMAN ISLANDS CARIBBEAN CANADA
Market Key word: Skilled Providers Authorized Insurance FINANCE BANKING ACCOUNTING
Supply: Cayman Finance
Copyright Business enterprise Wire 2021.
PUB: 06/08/2021 05:00 AM/DISC: 06/08/2021 05:02 AM
http://www.businesswire.com/information/dwelling/20210608005327/en
Copyright Business enterprise Wire 2021.